v2.3.0.11
EMPLOYEE RETIREMENT PLANS
 6 Months Ended
Jun. 30, 2011
EMPLOYEE RETIREMENT PLANS  
EMPLOYEE RETIREMENT PLANS

11. EMPLOYEE RETIREMENT PLANS

        The following table provides the components for the net periodic benefit (income) cost for all of our pension plans:

 
   Three months ended
June 30,		   Six months ended
June 30, 		 
In thousands
  2011   2010   2011   2010  

Components of net periodic benefit (income) cost:

                          

Interest cost

   $ 1,826   $ 1,964   $ 3,703   $ 3,926  

Expected return on assets

     (2,381 )   (2,468 )   (4,769 )   (4,926 )

Amortization of:

                          
 

Prior service credit

     1     —     2     —  
 

Actuarial loss recognized due to settlement

     —     —     591     —  
 

Actuarial loss

     247     204     493     409  
                   

Total net periodic benefit (income) costs

   $ (307 ) $ (300 ) $ 20   $ (591 )
                   

        Our major assumptions used to determine the net periodic benefit cost (income) for our U.S. pension plans are presented as follows:

 
   Six months
ended
June 30,		  
 
   2011   2010  

Discount rate

     5.55 %   6.00 %

Expected return on assets

     8.50 %   8.75 %

        In connection with the closure of our Sarnia, Ontario PVC resin manufacturing facility in December 2008, we decided to wind up the Canadian pension plan. All future benefit obligations for this pension plan were fully funded in February 2011 with a contribution in the amount of approximately $0.8 million. For the three and six months ended June 30, 2010 we made contributions of $0.4 million and $0.5 million, respectively, to the Canadian pension trust.

        For the three and six months ended June 30, 2011and 2010, we made no contributions to the U.S. pension plan trust. We made contributions in the form of direct benefit payments for the U.S. pension plans in the three months and six months ended June 30, 2011 and 2010 of approximately nil and $0.4 million, respectively.